Silverstein signs world trade group at 120 Broadway
The World Trade Centers Association, a trade group that represents more than 300 international trade facilities in 90 countries, is moving closer to those properties in Manhattan.
The group inked a 10-year lease at Silverstein Properties’ 120 Broadway in Lower Manhattan. The deal is for a furnished, 11,911-square-foot space on the 33rd floor of the property, also known as the Equitable Building, near Pine Street. Asking rent was more than $42 per square foot.
The WTCA now operates at the Gray Bar building at 420 Lexington Avenue in Midtown.
Camille McGratty, Silverstein’s vice president, represented the landlord in-house, while Norman Bobrow & Company executive managing director Shawn Harooni represented the tenant, Real Estate Weekly reported.
Over the past year, average asking rent per foot at the building rose from $45.44 to $45.71, and the availability rate fell to 15.9 percent from 16.7 percent, Colliers International data showed. [REW] — Mark Maurer